Motilal Oswal has given Buy recommendation for Eicher Motors recommended buy rating on the stock with a target price of Rs 3250 in its research rep with a target price of Rs. 3250 in its research report issued on Nov 04, 2021
Motilal Oswal’s research report on Eicher Motors
EIM’s beat in performance was driven by growth in RE realization and lower staff cost. With supply chain issues showing some signs of improvement, it expects volume performance to be better in 2HFY22. Export focus and revenue from accessories are helping RE improve its realization.
We cut our FY22E consolidated EPS by 5% to account for lower volumes in FY22E, while maintaining our FY23E earnings estimates. We maintain our Buy rating with a TP of INR3,250/share (Mar’23E SoTP).